The copious and complex data generated by the Internet of Things (IoT) may prove more valuable when companies employ not only descriptive analytics (often known as “business intelligence”) but also diagnostic, predictive, prescriptive and other more sophisticated forms of analytics, according to Tom Davenport, an independent senior advisor to Deloitte Analytics. In this essay, Mr. Davenport draws useful distinctions between five types of analytics that can be used to extract insights from IoT data.

Only 13% of more than 1,200 chief audit executives (CAEs) surveyed in 29 countries across eight industries are “very satisfied” that their functions have the skills to meet expectations of stakeholders, according to a global study from Deloitte Touche Tohmatsu Limited. The top five skills gaps cited by 42% of respondents are cyber, cloud computing and other specialized information technology skills. Further, CAEs also indicate risk anticipation and data analytics as the two innovations most likely to impact internal audit over the next three to five years.

As organizations continue to invest in customer analytics programs, the potential benefits for those that get it “right” are significant. However, they also face multiple risks from the inherent tension between wanting to leverage the data and needing to protect it. Meeting both objectives demands a robust control environment, and organizations that fail or delay in addressing their data governance practices could potentially undermine their big data programs. Not only does a strong control environment yield significant benefits, but increasing expectations of confidentiality and security in contracts, law and regulation—as well as the potential brand damage when data is leaked or misused—are quickly making more robust controls over customer data a business imperative.

Government agencies have long tangled with instances of fraud, waste and abuse, but the emergence of new data analytics techniques and tools can allow organizations to more easily identify suspicious activity, innocent errors and wasteful processes and procedures. A number of analytics techniques, including network analytics and rules-based monitoring for known risks, can be used in tandem to detect improper and wasteful activity, establish effective compliance programs and recover funds as appropriate.

The copious and complex data generated by the Internet of Things (IoT) require analytics that go beyond descriptive analytics to include diagnostic, predictive, prescriptive and automation functions, according to Tom Davenport, an independent senior advisor to Deloitte Analytics. In this essay, Mr. Davenport notes that it’s a “good idea” to move up to more sophisticated forms of analytics with the IoT, but the picture can be complex, which is why he suggests it may be necessary to distinguish between five types of analytics.

Only 13% of more than 1,200 chief audit executives (CAEs) surveyed in 29 countries across eight industries are “very satisfied” that their functions have the skills to meet expectations of stakeholders, according to a global study from Deloitte Touche Tohmatsu Limited. The top five skills gaps cited by 42% of respondents are cyber, cloud computing and other specialized information technology skills. Further, CAEs also indicate risk anticipation and data analytics as the two innovations most likely to impact internal audit over the next three to five years.

Marketing, which is highly quantitative, targeted and tied to business outcomes, will likely become highly automated by 2025, says Tom Davenport, independent senior advisor to Deloitte Analytics. The few people who will comprise the marketing team of the future will be responsible for ensuring that promotions are creative and for overseeing the automated systems. For those marketers who can embrace the technology and changes automation brings, it also could lead to some exciting careers.

Organizations are in the midst of a real-world paradigm shift: the final stages of a decades-long transition from the scientific discipline known as artificial intelligence into an array of applied cognitive technologies. Learn how cognitive technologies are changing the technology sector and how companies may be able to implement these technologies in their strategy and operations.

Without effective data storytelling, analytical initiatives don’t have the impact on decisions and actions that they should, says Tom Davenport, independent senior advisor to Deloitte Analytics. As a result, time and money spent on acquiring and managing data and analyzing it are effectively wasted.

HR technology is headed in a decisively consumer-focused direction in 2016, with features and designs aimed first and foremost at engaging employees and improving their performance rather than easing HR administration. This is good news for organizations seeking improved tools for IT workforce planning, performance management, and recruiting and retention, according to a report from Bersin by Deloitte.

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Deloitte’s Insights for C-suite executives and board members provide information and resources to help address the challenges of managing risk for both value creation and protection, as well as increasing compliance requirements.

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Eric Pillmore, former SVP of corporate governance for Tyco International, speaks about joining Tyco just after larceny charges were filed against the CEO and CFO in 2002 in this podcast with Mike Kearney, Strategic Risk National Managing Partner at Deloitte & Touche LLP. At the time, Mr. Pillmore was tasked with determining what happened, discovering the root causes that led to fraud and larceny, and helping to transform the company’s culture into one with strong ethics, compliance and governance.